Genting Singapore, a leading gaming company, is looking to enter the Japanese market where the new government is likely to approve a plan to legalizing casinos in the coming a year or a year and a half.
Gaming operator, which operates casino and entertainment complex Resorts World Sentosa in Singapore, is aiming to expand to newer markets at a time when it is facing stricter regulations and a slowing economy in the island nation. The company had recorded a fall of 20 per cent in its revenues from gaming during the third quarter compared to the same quarter of the previous year.
Lim Kok Tay , the chairman of the Genting Group, said, "I'm more optimistic on something happening in Japan than for the rest. We see some possible movement in terms of Japanese legislation."
The Genting Group owns investment holding company Genting Berhad as well as listed vehicles such as Genting Singapore, Genting Malaysia and Genting Hong Kong. The group also runs Genting Highlands casino complex near Kuala Lumpur and has made investments in the Philippines and Vietnam. Genting Hong Kong has a five percent stake in Echo Entertainment Group in Australia and it is looking to increase its stake to 25 per cent.